CALIFORNIA HOUSING MARKET UPDATE Monthly Sales and Price Statistics March 2016
Jan 22, 2018
CALIFORNIA HOUSINGMARKET UPDATE
Monthly Sales and Price Statistics
March 2016
SALES OF EXISTING DETACHED HOMES
California, Mar. 2016 Sales: 414,220 Units, +6.9% YTD, +5.7% YTY
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
*Sales are seasonally adjusted and annualizedSERIES: Sales of Existing Single Family HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Mar16:415,220
Mar-15:392,660
CALIFORNIA SALES(JAN 2000 – PRESENT)
SERIES: Sales of Existing Single Family Homes, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
120%
140%
Year-over-Year % Chg 6 per. Mov. Avg. (Year-over-Year % Chg)
BAY AREA SALES (EXISTING SFH)
SERIES: Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
-30%
-20%
-10%
0%
10%
20%
30%
Bay Area 6 per. Mov. Avg. (Bay Area)YoY % chg.
CENTRAL VALLEY SALES (EXISTING SFH)
SERIES: Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
-30%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
Central Valley 6 per. Mov. Avg. (Central Valley)YoY % chg.
SOUTHERN CALIFORNIA (EXISTING SFH)
SERIES: Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
-30%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
So CA 6 per. Mov. Avg. (So CA)YoY % chg.
SALES SHARE BY PRICE RANGE
14%
18%17%
14%
19%
9% 8%
3%
11%
18%17%
14%
20%
9% 9%
3%
0%
10%
20%
30%
Mar-15 Mar-16
SERIES: Sales of Existing Detached HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
SALES OF CONDO UNITS
California, Mar. 2016: 3,685 Units, +2.2% YTD, +1.1% YTY
SERIES: Sales of Condo UnitsSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
MEDIAN PRICE OF EXISTING DETACHED HOMES
California, Mar. 2016: $483,280, +8.9% MTM, +4.0% YTY
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000P: May-07$594,530
T: Feb-09$245,230
-59% frompeak
SERIES: Median Price of Existing Single Family HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Mar-16:$483,280
Mar-15:$464,640
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50% Condo Single-Family Homes
HOME PRICE APPRECIATIONS HAVEMODERATED SINCE MID 2013
SERIES: Sales of SFH and Condo UnitsSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
YTY% Chg. in Price
CA MEDIAN PRICE (EXISTING SFH)
SERIES: Median Price, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
-15%
-10%
-5%
0%
5%
10%
15%
Month-to-Month % Chg
PRICE PER SQUARE FOOT
Mar. 2016: $227, Up 4.1% MTM, Even 0% YTY
$0
$50
$100
$150
$200
$250
$300
$350
$400PRICE PER SQ. FT.
SERIES: Median Price Per Square FeetSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Mar-16:$227
Mar-15:$227
SALES PRICE -TO-LIST PRICE RATIO
Mar. 2016: 98.8%, Up 0.6% MTM, Up 0.3% YTY
86%
88%
90%
92%
94%
96%
98%
100%
102%Sales-to-List Price Ratio
SERIES: Sales-to-List RatioSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Mar-16:98.8%
Mar-15:98.5%
INVENTORY CONTINUED TODECLINE FROM LAST YEAR
Mar. 2015: 3.6 Months; Mar. 2016: 3.8 Months
Note: “Unsold Inventory Index” represents the number of months it would take to sell the remaining inventory for the month inquestion. The remaining inventory for the month is defined as the number of properties that were “Active”, “Pending”, and“Contingent” (when available) and divide the sum by the number of “Sold” properties for the month in question.
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
SERIES: Unsold Inventory Index of Existing Single Family HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
INVENTORY DROPPED SIGNIFICANTLYIN THE BAY AREA SINCE 2009 BUT REMAINED TIGHT
Note: “Unsold Inventory Index” represents the number of months it would take to sell the remaining inventory for the month inquestion. The remaining inventory for the month is defined as the number of properties that were “Active”, “Pending”, and“Contingent” (when available) and divide the sum by the number of “Sold” properties for the month in question.
3.2
4.44.1
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0 Bay Area So CA Central Valley
SERIES: Unsold Inventory Index of Existing Single Family HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
DEMAND INCREASED IN FEBRUARYBUT SUPPLY CONTINUED TO DECLINE
-8%
1%
7%
3%
-3%
-9%
-20%
-10%
0%
10%
San Francisco Bay Area Southern California Central Valley
Sales Active ListingsYear-to-Year % Chg
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Mar. 2016